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USDA announced the October Federal order Class III milk price at $15.16 per hundredweight, down 88 cents from September and the lowest Class III since February. The Class IV price rose $1.60 to $20.54, its highest since June.
A weaker Class III price reflects softer cheese-driven milk demand and bearish production data, which tends to weigh on dairy ingredient and feed demand. Feed costs eased alongside milk prices, leaving dairy margins roughly flat.
thefencepost.comLee MielkeNov 13, 2026After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
